WS #11325
Gulf oil exports jumped to 10M+ bpd in June as UAE and Saudi flows recover, but U.S.-Iran peace talks stall over Hormuz, keeping oil prices under pressure. NATO draft declaration includes $80B military aid package for Ukraine for 2026-2027, escalating geopolitical tensions. Ukrainian drone strikes destroyed key Russian refinery units, eliminating 9% of Southern Federal District capacity, causing domestic fuel shortages and rationing.
Oil supply glut deepens as Gulf exports surge
Gulf oil exports jumped to 10M+ bpd in June as UAE and Saudi flows recover, but U.S.-Iran peace talks stall over Hormuz, keeping oil prices under pressure.
NATO draft declaration includes $80B military aid package for Ukraine for 2026-2027, escalating geopolitical tensions.
Ukrainian drone strikes destroyed key Russian refinery units, eliminating 9% of Southern Federal District capacity, causing domestic fuel shortages and rationing.